State officials will have to report outside income, value of holdings, names of clients

Published 10:20 pm, Friday, May 10, 2013

There may be a glimmer of hope amid the drumbeat of political scandals coming out of the state Capitol in recent weeks.

Lawmakers and other top officials have to file more detailed disclosure forms by Wednesday, as dictated by a 2011 ethics overhaul designed to fight pay-to-play behavior at the Capitol.

The new disclosure rules say elected officials — from the governor down to the newest member of the Assembly — must report income earned from outside employment.

They also have to report the value of holdings such as stocks or real estate, and name clients they work for outside of their policy-making roles.

That means that Assembly Speaker Sheldon Silver will have to disclose within a narrowed range of income levels how much he earns at Weitz & Luxenberg, the law firm where he is of counsel.

Silver's relationship with the powerful tort firm has long been an issue, as critics have wondered if it has led to legislation benefitting trial lawyers. The speaker has refused to say how much he earns at the firm.